Reviewer: Anita S. Crum
Product: Foreclosure.com
1. Ease. Is it easy to use for real estate professionals? For real estate consumers? How steep is the learning curve?
The site is relatively easy to use for both real estate professionals and consumers. It only takes a few minutes to navigate around the site and identify the pertinent information.
Strengths:
The ability to search for properties by map is great feature and very easy to use. Another nice, and easy to use feature is the ability to save the specific properties for later review or download.
Weaknesses:
The overall appearance is somewhat crowded. Having to enter a security code repeatedly to see property details is annoying and time consuming.
Numeric rating, from zero to 100 (zero is the worst and 100 is the best):
90
Explanation for rating:
The initial search features and results page are easy to use and provide good information. The actual property result page is clutter with a lot of links to "resources" many of which are just other online vendors.
2. Value. Is it helpful and useful for real estate professionals? For their clients/customers/consumers? Cost vs. benefits: Is it worth the cost?
The site definitely has some benefits for both real estate professionals and consumers. It provides a starting point for researching distressed properties but care should be taken to verify accuracy of the information.
Strengths:
The site provides a good overview of the number and types of distressed properties in a particular neighborhood and provides some useful links for consumers on purchasing foreclosures.
Weaknesses:
There were a number of inaccuracies in the data provided (incorrect price, contact information, status, etc.).
Numeric rating, from zero to 100 (zero is the worst and 100 is the best):
70
Explanation for rating:
High percentage of inaccuracy (20 percent in my review) makes this less valuable since it would be necessary to verify information through another source.
3. Power. Would real estate professionals and consumers be likely to use this often? Can it replace existing tools/methods? How much information and how many features does it put at the user’s fingertips? Does it have the power to change the industry? Can real estate professionals and consumers use this on the go? Is it innovative and cutting edge? Is it scalable (can be used by individuals and entire offices/companies)? Does it have advanced features for tech-savvy users? Does it integrate with other products?
This site has some nice features but nothing that could be considered cutting edge technology. I do not see it replacing existing methods but it could be a nice supplement. Although it provides a good amount of information, the level and quality of that information is limited.
Strengths:
The e-mail alert option is very easy to set up and notifies you of properties that fit your criteria. The mouse-over on the map (at state level) provides a quick summary of number of distressed properties by type.
Weaknesses:
Information on the property itself is very limited, little or no descriptions, features, etc. Consumers will still need to another source (online, agent, etc.) to obtain more info.
Numeric rating, from zero to 100 (zero is the worst and 100 is the best):
75
Explanation for rating:
This site is more likely to appeal to consumers starting initial research than to agents. It has the potential to be a very powerful tool if it would provide more detailed information, and make sure that the data was current and accurate.
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